Last year in May, O2 and Virgin Media announced their intentions to merge into an entertainment and telecom firm, becoming a rival to BT & Sky. A year later and after a thorough, two-phased investigation, the Competition and Markets Authority has provisionally approved the £31bn merger, stating that it was “unlikely to lead to any substantial lessening of competition”.
This deal is expected to benefit customers and offer them access to broader services, and the newly formed company will be focusing on faster broadband and 5G networks. It is expected that the merger be cleared by summer, and it is also expected that newly formed entity would make millions of pounds of annual savings, benefiting from synergies and economies of scale.
For consumers, the merger will mean a greater choice of TV programmes, and faster broadband speeds.